An typical Toronto Condominium averages about 600 square feet in size and as a result, is just too small for families. According to Canada Mortgage and Housing Corp. half of the 117,500 units constructed in the first 11 months of 2009 were multi-family units.
Current Toronto Condominium projects conform to the city's residential intensification plans for higher density in the urban areas, to curb future urban sprawl.
With the average November 2009, Toronto Condo price of $391,937 it becomes too expensive to market 3 or 4 bedroom Family Condos. According to the Building Industry and Land Development Association, purchasers would require a $700,000 Condo for family needs.
Unique challenges and rewards of intensification continue to evolve in Toronto and the Greater Toronto Area Real Estate Market, where developers, families and residents will hopefully find a way to include family oriented Condominiums.
